The Galaxy S5 rumor mill is spinning once again as a new report from South Korea claims that Samsung and ARM have "fine-tuned" their plan to launch the device with a 64-bit processor.

The news is based off what sources familiar with the matter told the Korea Herald.

Samsung confirmed earlier this year that it planned to launch handsets with 64-bit chips in 2014. However, the company could end up waiting for the Galaxy Note 4 to introduce the component.

The Galaxy S5 could also end up featuring a wrap-around display. The company is rumored to be releasing a smartphone next year that will have the next-gen YOUM technology available, according to a report from Bloomberg. This device could be the next-gen flagship.

Bloomberg claims the device will have a display that wraps around the smartphone's sides. All three of the sides of the display will operate independently, which means that notifications and other tasks can be accomplished by simply touching the sides of the phone.

The publication did not confirm which model may have the technology, but it is fair to assume that it could be used for the flagship Galaxy S5 as a new selling point.

The Galaxy S5 rumors have also pointed to the company improving other aspects on the handset, including the camera and the display that will receive a significant resolution increase.

The company held its first Analyst Day event in eight years recently where it introduced some of the new technology it will use on its devices starting in 2014.

Displays will be greatly improved next year as Samsung will introduce AMOLED panels with pixel densities of up to 560ppi. This would allow Samsung to blow past HTC, who currently has a device with 469ppi with the One handset.

This would also see Samsung move from Full HD on its current handset to WQHD or 2560 x 1440 pixels.